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Incorrect beginning balances when reconciling in QuickBooks Online (QBO) can impact future reconciliations, @karla27. No worries, let's work on this together to ensure that everything is accurate moving forward.
The beginning balance is the starting point for accounts in QuickBooks. If it's incorrect, it affects all future reconciliations. To prevent discrepancies, you'll need to review the original opening balance in your bank statement for accuracy.
Meanwhile, if you're in the middle of a reconciliation when you accidentally enter the incorrect beginning balance, you can have the option to correct it and resume your reconciliation:
QBO generates a detailed reconciliation report for the reconciliation session you've completed. This report clearly shows your account's beginning and ending balances, allowing you to track any discrepancies in the current state of your accounts.
We value your business accuracy, and I'm here to help ensure your reconciliation process is smooth and precise. Feel free to return to this thread if you have other questions. Have a good one.
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